Aldea Cunda Group
The loan Gonzalo is requesting will be used to restock his business with new merchandise. He will invest in the purchase of products such as rice, lard, beans, soap, detergent, dairy goods, soft drinks, snack foods, candies, and other items. He hopes that the support of this loan will enable him to increase his income and to submit his loan payments on time.
His dream is to improve his convenience store so that it becomes one of the best-stocked shops in the area. This is his first loan cycle with FAMA and he hopes to complete his payment commitments on time.
About FAMA:Honduras is one of the poorest countries in the Western Hemisphere with approximately 59% of people living below the poverty line. Familia y Medio Ambiente OPDF (FAMA OPDF) is a Honduran non-profit with no religious or political affiliation. FAMA’s mission is to provide quality and opportune financial services so that men and women have equal opportunities to develop their micro or small businesses, whether they focus on agriculture, manufacturing or services. FAMA operates 13 branches throughout Honduras and serves over 12,500 clients.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.
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Success!! The loan was 100% repaid